The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes increasingly important. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer that is infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers gaining gain access to private information via a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it isn’t combat-tested to date. This is something prospective buyers should take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add more support for coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the hardware wallet market and promises to be 100% secure due to its complete isolation from any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with other wallets. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other hardware wallets, and it’s a relatively new product that’s available.